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Niger Economy 2017
https://theodora.com/wfbcurrent/niger/niger_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Niger Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Niger is a landlocked, sub-Saharan nation, whose economy centers on subsistence crops, livestock, and some of the world's largest uranium deposits. Agriculture contributes nearly 40% of GDP and provides livelihood for most of the population. The UN ranked Niger as the least developed country in the world in 2015 due to multiple factors such as food insecurity, lack of industry, high population growth, a weak educational sector, and few prospects for work outside of subsistence farming and herding.Since 2011 public debt has increased due to efforts to scale-up public investment, particularly that related to infrastructure. The government relies on foreign donor resources for a large portion of its fiscal budget. The economy in recent years has been hurt by terrorist activity and kidnappings near its uranium mines and by instability in Mali and in the Diffa region of the country; concerns about security have resulted in increased support from regional and international partners on defense. Low uranium prices, demographics, and security expenditures may continue to put pressure on the government’s finances.Future growth may be sustained by exploitation of oil, gold, coal, and other mineral resources. Although Niger has sizable reserves of oil, the profitability of these commodities has been called in to question due to the prolonged drop in oil prices. Food insecurity and drought remain perennial problems for Niger, and the government plans to invest a little more in the agriculture sector, most notably irrigation. Niger’s three-year $131 million IMF Extended Credit Facility agreement for years 2012-15 was extended until the end of 2016, although formal private sector investment needed for economic diversification and growth remains a challenge, given the country’s limited domestic markets, access to credit, and competitiveness.

GDP (purchasing power parity):
$20.27 billion (2016 est.) $19.26 billion (2015 est.) $18.6 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 147
[see also: GDP country ranks ]

GDP (official exchange rate):
$7.566 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.2% (2016 est.) 3.5% (2015 est.) 7.1% (2014 est.)
country comparison to the world: 34
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$1,100 (2016 est.) $1,100 (2015 est.) $1,100 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 223
[see also: GDP - per capita country ranks ]

Gross national saving:
24.7% of GDP (2016 est.) 24.3% of GDP (2015 est.) 24.2% of GDP (2014 est.)
country comparison to the world: 51
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 66.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 15.5%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 39.6%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 16.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -38.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 36.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 18.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 45% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cowpeas, cotton, peanuts, millet, sorghum, cassava (manioc, tapioca), rice; cattle, sheep, goats, camels, donkeys, horses, poultry

Industries:
uranium mining, petroleum, cement, brick, soap, textiles, food processing, chemicals, slaughterhouses

Industrial production growth rate:
4.8% (2016 est.)
country comparison to the world: 38
[see also: Industrial production growth rate country ranks ]

Labor force:
6.5 million (2016 est.)
country comparison to the world: 68
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 90%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 6%
[see also: Labor force - by occupation - industry country ranks ]
services: 4% (1995)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
5.1% (2015 est.) 5.1% (2014 est.)
country comparison to the world: 56
[see also: Unemployment rate country ranks ]

Population below poverty line:
63% (1993 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 28.5% (2007)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
34 (2007) 50.5 (1995)
country comparison to the world: 98
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $1.715 billion
[see also: Budget revenues country ranks ]
expenditures: $2.25 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
22.7% of GDP (2016 est.)
country comparison to the world: 132
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-7.1% of GDP (2016 est.)
country comparison to the world: 187
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.1% (2016 est.) 1% (2015 est.)
country comparison to the world: 71
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.25% (31 December 2009) 4.75% (31 December 2008)
country comparison to the world: 93
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
3.5% (31 December 2016 est.) 3.5% (31 December 2015 est.)
country comparison to the world: 160
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.553 billion (31 December 2016 est.) $1.508 billion (31 December 2015 est.)
country comparison to the world: 138
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.027 billion (31 December 2015 est.) $2.047 billion (31 December 2014 est.)
country comparison to the world: 155
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.155 billion (31 December 2016 est.) $1.145 billion (31 December 2015 est.)
country comparison to the world: 159
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.35 billion (2016 est.) -$1.237 billion (2015 est.)
country comparison to the world: 136
[see also: Current account balance country ranks ]

Exports:
$1.1 billion (2016 est.) $1.099 billion (2015 est.)
country comparison to the world: 155
[see also: Exports country ranks ]

Exports - commodities:
uranium ore, livestock, cowpeas, onions

Exports - partners:
France 53.1%, Nigeria 20.3%, China 13.8% (2015)

Imports:
$1.916 billion (2016 est.) $1.888 billion (2015 est.)
country comparison to the world: 162
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery, vehicles and parts, petroleum, cereals

Imports - partners:
France 12%, China 10.5%, Nigeria 9.5%, French Polynesia 9%, Togo 6.1%, Belgium 5.3%, Cote dIvoire 5.3%, US 4.3% (2015)

Debt - external:
$2.729 billion (31 December 2016 est.) $2.611 billion (31 December 2015 est.)
country comparison to the world: 143
[see also: Debt - external country ranks ]

Exchange rates:
Communaute Financiere Africaine francs (XOF) per US dollar - 605.7 (2016 est.) 591.45 (2015 est.) 591.45 (2014 est.) 494.42 (2013 est.) 510.53 (2012 est.)


NOTE: The information regarding Niger on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niger Economy 2017 information contained here. All suggestions for corrections of any errors about Niger Economy 2017 should be addressed to the CIA.




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